Condé Nast is betting on virtual reality too
Condé Nast video head Dawn Ostroff kicked off her NewFronts presentation by saying of the glitzy publisher’s video strategy, “We made a decision to not do what everybody else is doing.” Still, the event contained a lot of the buzzwords that have already become familiar to attendees’ ears, from virtual reality to social platforms to millennials. (In Condé Nast’s case, make that “cultured millennials,” which it defined as young people with a job.)
The publisher of luxe titles such as Vanity Fair and Vogue offered a sneak peak of a previously announced six-episode VR series in development that’s due out in September, called “Invisible.” Condé Nast is joining the ranks of publishers that are spending on VR and its more accessible cousin, 360-degree video, on the belief that advertisers are ready to get on board. “Clearly, VR is going to be a big part of our studio going forward,” Ostroff said.
While Condé Nast’s message to ad buyers is still focused on the premium quality of its video content, from feature films to social clips, it’s increasingly acknowledging the reality that it needs to distribute those videos wherever people may see them, which today increasingly means their social feeds.
To that end, sales head Lisa Valentino announced that Condé Nast’s video would “transcend all screens,” with new video ad products designed to work on all platforms and that it would “lean heavily” into social, commerce and influencers. The company boasted its videos now live on 50-plus platforms, including Facebook, Snapchat and Twitter.
Still, the demand to create and distribute videos on social platforms has frustrated publishers that are restricted by the same platforms in their ability to sell advertising against their content. That’s especially true for a company like Condé Nast, which is known to not spare expenses when it comes to content production.
That’s perhaps why Condé Nast isn’t giving up on The Scene, the hub it launched as a repository for its video two years ago. The Scene strategy has been a head-scratcher to some, as people already have settled into video viewing habits on other platforms like YouTube and Facebook. So today, the company announced it was rebooting The Scene with mobile users in mind as well as launching a companion iTunes app for heavy video viewers.
Traffic to The Scene can’t make Condé Nast happy; in March, it had 5.7 million unique visitors, down 30 percent from a year ago and from a peak of more than 13 million in November of the year before, according to comScore. But at least Condé Nast can keep all the revenue it makes there, while, as one publisher there groused, “I haven’t made any money” on Facebook.
Cheat Sheet: At IAB Podcast Upfront, diverse voices take center stage while podcast advertising revenue and audiences boom
Most of the companies that presented at the IAB Podcast Upfront signaled they had or were going to add more diversity to their programming, both in hosts and content.
Member ExclusiveMedia Briefing: What media companies’ latest earnings reports say about the state of the industry
Media companies' Q1 earnings reports signaled a continued return to business as usual — for better or worse, depending on the company's digital business.
‘Brands tend to be selective’: OMG report offers options to media buyers facing upfront inventory crunch
With a tight upfront TV marketplace expected, one agency group is recommending alternatives in video and CTV.
SponsoredHow The Company Store is reimagining customer experiences for pandemic-era growth
Throughout the pandemic, some retail categories have been inherently successful. Home furnishings and décor are among them; with consumers spending so much more time at home, updates and renovations flourished. Criteo data from the first half of 2020 showed sales for items like outdoor furniture sets up 434% year over year, with other home items […]
‘You’re fixing a number, not changing the culture’: Confessions of a media exec on diversity quotas
In the rush to improve diversity rates, businesses are in danger of overlooking more fundamental ways to sustain inclusivity in the workplace, according to our latest Confessions interviewee.
‘Direct revenue driver’: How local broadcaster News 12 is partnering with Google to build a younger audience
Local broadcaster used support and funding from Google News Initiative to build a new tool that can automatically identify and feed video content into new website verticals.